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Ideas for Developing Asia and the Pacific

Dina Azhgaliyeva, Research Fellow

Dina Azhgaliyeva

Dina Azhgaliyeva

Dina Azhgaliyeva joined ADBI as a Research Fellow in July 2019.

Previously she worked as a Research Fellow in the energy economics division of the Energy Studies Institute, National University of Singapore. She was a Research Fellow at the Henley Business School, University of Reading (United Kingdom), where she worked on a project entitled “Kazakh-British Centre for Competitiveness.” She also worked as a leading and chief specialist for the Tax Committee at the Ministry of Finance of Kazakhstan.

Her research focuses on energy policy, particularly renewable energy, energy efficiency, and energy storage. Dina has published articles on these topics in journals such as Technological Forecasting and Social Change, Australasian Journal of Environmental Management, Journal of Environmental Management, Energy Policy, and Journal of Sustainable Finance & Investment. She is currently a guest editor for the Applied Energy special issue “Integration of Renewable Energy in Energy Systems, Perspectives on Investment, Technology, and Policy.”

She earned her PhD and MSc in economics from the University of Essex (United Kingdom). She also holds an internationally recognized teaching qualification from the Fellow of Higher Education Academy and a qualification in research career management from the Staff Educational and Development Association.


What Matters for Private Investment in Renewable Energy?

Azhgaliyeva, D., J. Beirne, and R. Mishra. Climate Policy, 2022

Post-COP26 Net-Zero Society: How Hydrogen Shapes Future Energy Systems

C. Wen, H. Zhang, M. Tian, A. Salman, D. Cao, D. Azhgaliyeva, L. Marzell, and J. Williams. EnerarXiv, 2022

Public Policy Instruments for Procurement: An Empirical Analysis

Y. Kalyuzhnova, D. Azhgaliyeva, and M. Belitski. 2022. Technological Forecasting and Social Change 176: 121472, 2022

Feed-in Tariffs for Financing Renewable Energy in Southeast Asia

D. Azhgaliyeva, and R. Mishra, Wiley Interdisciplinary Reviews: Energy and Environment e425, 2021

What Determines Coal Consumption for Residential Heating in Kazakhstan and the Kyrgyz Republic?

D. Azhgaliyeva, R. Mishra, K. Karymshakov, A. Kerimray, and Z. Kapsalyamova, Australasian Journal of Environmental Management, 2021

Why Energy Access Is Not Enough for Choosing Clean Cooking Fuels? Evidence from the Multinomial Logit Model

Z. Kapsalyamova, R. Mishra, A. Kerimray, K. Karymshakov, and D. Azhgaliyeva, Journal of Environmental Management 290, 2021

Financing infrastructure using floating-interest-rate infrastructure bond

N. Yoshino, D. Azhgaliyeva, R. Mishra, Journal of Infrastructure, Policy and Development , 4(2): 306–315, 2021

An empirical analysis of energy intensity and the role of policy instruments

D. Azhgaliyeva, Y. Liu and B. Liddle, Energy Policy (145), 2020

Green bonds for financing renewable energy and energy efficiency in South-East Asia: a review of policies

D. Azhgaliyeva, A. Kapoor and Y. Liu, Journal of Sustainable Finance & Investment 10(2):113-140, 2020

Introduction to the special issue: Scaling Up Green Finance in Asia

D. Azhgaliyeva and B. Liddle, Journal of Sustainable Finance & Investment 10(2):83-91, 2020

Policy Instruments for Renewable Energy: An Empirical Evaluation of Effectiveness

D. Azhgaliyeva, M. Belitski, Y. Kalyuzhnova & M. Romanov, International Journal of Technology Intelligence and Planning, 12(1): 24-48, 2018

The Role of Alliances in Leveraging National Local Content Policies for Firm Competitiveness

M. Belitski, Y. Kalyuzhnova, D. Azhgaliyeva, International Journal of Strategic Business Alliances 6(1-2): 69-85, 2017

The Effect of Oil Revenue Funds on Social Welfare

D. Azhgaliyeva, Public Finance Review, 46(4): 692-712, 2018

The Effect of Fiscal Policy on Oil Revenue Fund: The Case of Kazakhstan

D. Azhgaliyeva, Journal of Eurasian Studies, 5:157-183, 2014

Infrastructure and Firm Performance in CAREC Countries: Cross-Sectional Evidence at the Firm Level

D. Azhgaliyeva, R. Mishra, N. Yoshino, and K. Karymshakov, in Unlocking Transport Connectivity in the Trans-Caspian Corridor, D. Azhgaliyeva and Y.Kalyuzhnova (eds.), 2021, 137–165

The Viability of Green Bonds as a Financing Mechanism for Energy-Efficient Green Buildings in ASEAN: Lessons from Malaysia and Singapore

A. Kapoor, E.-Q. Teo, D. Azhgaliyeva, and Y. Liu, in Energy Efficiency Financing and Market-Based Instruments, Y. Liu, F. Taghizadeh-Hesary, and N. Yoshino (eds.), Springer, 263-286.

Green Sukuk Market (Box 1)

D. Azhgaliyeva, in Asia Bond Monitor June 2021. Manila: Asian Development Bank, 8-10.

Assessing Energy Security in Caspian Region: The Geopolitical Implications of European Energy Strategy

Aydin U. & D. Azhgaliyeva, in Achieving Energy Security in Asia: Diversification, Integration and Policy Implications, Farhad Taghizadeh-Hesary , Naoyuki Yoshino, Young Ho Chang & Aladdin Rillo (eds.) World Scientific, p.257-290

Towards Energy Security in ASEAN: Impact of Regional Trade, Renewables and Energy Efficiency

Yang L., Zhong S. & D. Azhgaliyeva in Achieving Energy Security in Asia: Diversification, Integration and Policy Implications Farhad Taghizadeh-Hesary, Naoyuki Yoshino, Young Ho Chang & Aladdin Rillo (eds.), World Scientific, 291-318

Implications of Fiscal and Financial Policies in Unlocking Green Finance and Green Investment

D. Azhgaliyeva, Z. Kapsalyamova & L.Low in Hanbook on Green Finance: Energy Security and Sustainable development J. Sachs, W. W. Thye, N. Yoshino, F. Taghizadeh-Hesary (eds.), Springer Singapore, p.427-457

8 April 2022 Measuring the impacts of COVID-19 in Central Asia

The COVID-19 outbreak has had wide-ranging impacts on the economies of Central Asia, with uncertainty and protective policy measures contributing to falling demand and supply.

14 Feb 2021 Post-COP26 net-zero society: How hydrogen shapes future energy systems – ICAE2021 Panel Session Commentary

The 2021 United Nations Climate Change Summit (COP26) in Glasgow agreed to accelerate the phase-down of unabated coal power and inefficient fossil fuel subsidies, which is expected to help reshape the future energy system.

10 Dec 2021 The next steps for meeting nationally determined contributions after COP26 - Asia Pathways

Reductions in emissions of carbon dioxide and other greenhouse gases must be achieved in the coming decades to avoid catastrophic global temperature rises. Limiting global warming to within 1.5°C will require rapid, far-reaching, and unprecedented changes in all sectors.

12 November 2021 After COP26, developing Asia’s challenge is meeting ambitious climate commitments

Developing Asian countries, such as Indonesia, Kazakhstan, Thailand, and Viet Nam, have announced their net-zero carbon emission targets by mid-century at the United Nations Climate Change Conference (COP26) in Glasgow, Scotland, and financing climate change mitigation has been at the forefront of discussions for making ambitious climate action a reality.

5 November 2021 Infrastructure investment key to unlocking emerging Asia-Europe trade corridor

Spanning from the People’s Republic of China through Central Asian countries along the Caspian Sea to Europe, the Trans-Caspian Corridor is an increasingly important channel for transportation and cross-border trade. Considerable financing gaps and other challenges must be addressed to meet its rapidly expanding infrastructure needs.

15 October 2021 Infrastructure investment to spur firm performance in Central Asia

Effective infrastructure projects not only construct infrastructure, such as roads, railways, water supply, and electricity, but can boost economic growth in the surrounding region through “spillover effects.” The infrastructure benefits firms by lowering costs and improving connectivity and the ease of doing business, leading to greater sales and exports.

September 2021 Sustainable and Quality Infrastructure Beyond the COVID-19 Pandemic: Proposals for New Financing Models - T20 Italy 2021 Policy Brief

Infrastructure investment is indispensable for green and inclusive recovery from the COVID-19 pandemic. However, public funding has been limited due to the use of funds for the immediate needs of COVID-19 recovery, and private investors have also reshaped their investment profile to address the difficult circumstances.

4 August 2021 Green bonds show promise for financing energy-efficient buildings in Southeast Asia - Asia Pathways

The member countries of the Association of Southeast Asian Nations (ASEAN) have been experiencing a surge in energy demand due to their growing populations, expanding economies, and rising living standards.

5 July 2021 Kazakhstan and the Kyrgyz Republic need more than energy access to promote clean fuels - Asia Pathways

Air pollution in the cold countries of Central Asia is particularly high during winter due to the consumption of solid fuels for space heating.

25 June 2021 Which financing sources matter for private investment in renewable energy in Asia? - Asia Pathways

The mobilization of climate finance is critical for limiting global warming to within 1.5°C and preventing catastrophic climate change (IPCC 2018). Annual green investments totaling $1.5 trillion are needed (United Nations 2017).

8 October 2020 Diversification of solar PV suppliers for sustainable energy during the COVID-19 crisis - Asia Pathways

Experts are increasingly acknowledging the vulnerability of the global solar photovoltaic (PV) value chain due to the concentration of manufacturing capacity in only a few countries, such as the People’s Republic of China (PRC) (Zhai 2020).

July 2020 Going ‘Green’ During the COVID-19 Crisis - IAEE Energy Forum

COVID-19, as both a supply shock and a demand shock, has the potential to severely disrupt global economic activities, including energy systems. According to IEA (2020), global energy demand is expected to decline in 2020 with widespread travel restrictions and economic lockdowns as COVID-19 spreads around the world.

10 July 2020 Achieving policy objectives for green bonds in ASEAN - Asia Pathways

The latest Intergovernmental Panel on Climate Change report, Global Warming of 1.5 ºC, notes the importance of mobilizing green finance for limiting global warming to 1.5 degrees Celsius and preventing catastrophic climate change.

26 February 2020 Economic integration and energy efficiency for energy security in ASEAN - Asia Pathways

The security of energy supply is crucial for rapid growth in Southeast Asia, but it is being increasingly challenged by the region’s fast-growing energy demand. This high demand can be explained by improvements in energy access as well as population and economic growth.

18 November 2019 Political risks in energy-transporting countries and energy security in the Caspian Basin - Asia Pathways

Energy security is a crucial issue in contemporary international relations but not a new one. It is usually defined as the reliable and sufficient supply or demand of energy at acceptable prices and is at the top of the agenda for both energy-importing and energy-exporting countries.

25 October 2019 Feed-in tariffs and loans for boosting private investment in renewable energy - Asia Pathways

Investment in renewable energy of $9 trillion is required to meet global energy supply needs by 2040 (International Energy Agency 2016), but investments in fossil fuels still dominate those in renewable energy.

Data from: Assessing Energy Security in Caspian Region: The Geopolitical Implications to European Energy Strategy

D. Azhgaliyeva, ScholarBank @NUS Repository. Dataset, 2019. doi:10.25540/8B8T-EWDR

Codes for: Implications of Fiscal and Financial Policies on Unlocking Green Finance and Green Investment

D. Azhgaliyeva, ScholarBank @NUS Repository. Dataset, 2019. doi:10.25540/TV5A-89QY

Codes for: Policy Instruments for Renewable Energy: An Empirical Evaluation of Effectiveness

D. Azhgaliyeva, ScholarBank @NUS Repository. Dataset, 2019. doi:10.25540/PP3W-MJ3S

Competitiveness Environment Survey in Kazakhstan

D. Azhgaliyeva, M. Belitski & Y. Kalyuzhnova, University of Reading. Dataset, 2017.

Kazakhstan Regional Data 1994-2014

D. Azhgaliyeva, M. Belitski & Y. Kalyuzhnova, University of Reading. Dataset, 2017.

Opportunities for Bolashak Graduates in Kazakhstan

D. Azhgaliyeva, M. Belitski & Y. Kalyuzhnova, University of Reading. Dataset, 2017.

29 November 2021 How developing Asia can lift energy subsidies and advance post-COP26 climate change mitigation

In this podcast, ADBI’s Dina Azhgaliyeva and Frank Wolak of Stanford University explain how developing Asia and the Pacific can achieve measurable progress toward carbon neutrality after COP26 by advancing the region’s clean energy transition while relying less on public subsidies.

28 October 2021 Unlocking new trade routes between Asia and Europe could deliver an inclusive recovery breakthrough - Asia's Developing Future

In this podcast, ADBI’s Dina Azhgaliyeva, Yelena Kalyuzhnova of the University of Reading, and Richard Pomfret of the University of Adelaide describe how improved infrastructure development within the Trans-Caspian Corridor could drive post-COVID-19 trade and inclusive economic opportunities.

17 June 2021 How one of Asia’s most dirty fuel-reliant areas can transition to clean energy use - Asia's Developing Future

In this podcast, ADBI’s Dina Azhgaliyeva and Ranjeeta Mishra, and CAREC Institute’s Kamalbek Karymshakov explain the implications of this gap, and what policy makers can do about it moving forward.

31 March 2021 How landlocked Central Asia could become a post-pandemic infrastructure financing leader - Asia's Developing Future

In this podcast, ADBI research fellow Dina Azhgaliyeva and Waseda University professor Naoyuki Yoshino examine the unique challenges of Central Asian infrastructure development and ways to attract greater private financing in the region moving forward.

16 September 2020 As pandemic bonds hit the market, what can Asia do to ensure its green bond growth potential? - Asia's Developing Future

In this podcast, ADBI research fellow, Dina Azhgaliyeva, explains the rising importance of green bonds for the region, the outlook for green bond issuance, and how policymakers can promote the market’s post-pandemic growth.